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Samreen Ahmad · · 1 min readJ&T Express picks up $2.5b in pre-IPO funding
“Indonesian courier startup J&T Express has raised US$2.5 billion in a funding round at a valuation of US$20 billion, ahead of its plan to list in Hong Kong as soon as the first quarter of next year,” Reuters reported, citing three people familiar with the matter.
Details:
- Boyu Capital, Hillhouse Capital Group, Sequoia Capital China, and Tencent participated in J&T Express’ latest round, the sources said.
- SIG China also joined the courier service’s cap table as an investor.
Dive deeper:
- Founded in 2015, J&T Express is engaged in logistics and the delivery of packages. The company uses automated sorting warehouses in Indonesia and Singapore for its services.
- The company has brought in Bank of America, China International Capital, and Morgan Stanley to handle its planned billion-dollar IPO, the sources told Reuters.
Editing by Collin Furtado and Arpit Nayak
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